Growing artificial intelligence tailwinds should lift Nvidia's guidance when chip giant posts earnings, according to some Wall Street analysts.
Proliferating artificial intelligence tailwinds should lift Nvidia 's guidance when the chip giant posts earnings results after the close on Wednesday, according to some Wall Street analysts. "Overall, we expect better results/guidance, driven largely by the ongoing AI gold rush and subsequent DC GPU demand," wrote Susquehanna Financial Group's Christopher Rolland in a note to clients on Thursday.
" This "sense of urgency" surrounding the technology should also lift the company's results and forecast, he added. Schafer views the company's data center business as a beneficiary of cloud vendors building up AI infrastructure. He lifted his price target nearly 17% from $350 from $300 and reiterated his outperform position. He referred to its hardware platform as a "cornerstone" of the proliferating AI market.
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